How Do You Close A Credit Card?

Krista asks Dave for suggestions on how to close a credit card. Dave recommends starting with a phone call, and if Krista doesn't receive notification, she can go from there.

QUESTION: Krista on Facebook asks Dave for suggestions on how to close a credit card. Dave recommends starting with a phone call, and if Krista doesn't receive notification, she can go from there.

ANSWER: I’d start with a phone call, and then if they don’t send you some kind of verification that they closed it, then I’d check your credit bureau report. If it still doesn’t show up as closed, then call them and jump their case so they do send you some verification. And if that doesn’t work, then you’ll have to send them a letter certified mail. Usually a phone call will do it.

The problem with the phone call is that you’ll have to listen to all their crap about how stupid you are for closing the card. They fight to keep it open and make you feel like an idiot for closing it. Stand firm when you call, because you know you’re going to have an argument. That’s part of the deal.

Jump-Start Your Goals!

Jump-Start Your Goals!

Get our 8-Day JUMP START series and weekly newsletter that are packed with articles and tools to help you win with money.

Learn to Beat Debt

Take Control of Your Money!

The best way to get out of debt and take control of your money is to make a plan! Financial Peace University is that plan!

Find a Class

Thank You!

Your 8-Day Jump Start is on its way to !